New PSALM President and CEO named
The Governing Board of the Power Sector Assets and Liabilities Management Corporation (PSALM) has elected Mr. Dennis Dela Serna as its President and Chief Executive Officer (CEO) following the release by Malacañang of his appointment as Acting President and CEO of the Corporation and Member, PSALM Board of Directors last 15 September 2022....
SPPC’s payables to PSALM relative to the 1200MW Ilijan Power Plant
PSALM read news articles yesterday reporting that San Miguel Corporation’s South Premiere Power Corporation (SPPC) is seeking the approval of the Energy Regulatory Commission (ERC) for temporary price adjustment of its 2019 power supply agreement with Manila Electric Company allegedly due to staggering increases in fuel prices....
PSALM cuts financial obligations by P195-billion under Duterte administration
The Power Sector Assets and Liabilities Management Corp. (PSALM) has trimmed by more than a third its financial obligations as of June 30, 2022, the last day of President Rodrigo Duterte in office. Financial obligations amounted to P538 billion before President Duterte assumed office in June 2016, or a hefty reduction of P195.4 billion by the end of the Duterte administration. Its financial obligation is now estimated at PHP342.6 billion....
The Department of Finance (DOF) has instructed the Power Sector Assets and Liabilities Management Corp. (PSALM) to strictly enforce its credit and collection policy against Maguindanao Electric Cooperative, Inc. (MAGELCO) and Lanao del Sur Electric Cooperative, Inc. (LASURECO) for their failure to settle their outstanding accounts exceeding P16 billion combined and to pay their current power bills on time....
PSALM welcomes comments on the terms of the Casecnan Plant sale
The Power Sector Assets and Liabilities Management Corporation (PSALM) held a pre-bid conference on 22 November 2022 for the sale of the 165-megawatt Casecnan Hydroelectric Power Plant (CHEPP), affording Bidders the opportunity to ask questions and request for clarification on concerns relative to the requirements stated in the Bidding Procedures. ...